Home / Knowledge / News / Textiles / Textile segment sales up 8% at Raymond in Q3FY'13
Textile segment sales up 8% at Raymond in Q3FY'13
23
Jan '13
Raymond Limited announced its unaudited financial results for the quarter ended December 31, 2012.

The standalone Textile segment net sales for the quarter ended 31 December 2012 witnessed an increase of 8% at Rs 554 crore. However, margins have been impacted due to higher input costs and underutilization of capacities.

The Branded Apparel business net sales stood at Rs 184 crore, down by 7% on YaY basis and reported EBITDA of Rs 4 crore as against Rs 29 crore in the corresponding previous quarter. Margins have been impacted due to higher discounted sales and change in channel mix.

Raymond's exclusive retail network across all formats and geographies stood at 914 stores as on 31 December 2012, covering over 1.74 million square feet of retail space. The company added 21 stores during the quarter and closed 9 stores.

The Cotton shirting fabric business has witnessed improved performance during the quarter. Sales stood higher by 24% at Rs 80 crore while EBlTDA was higher by 32% at Rs 12 crore. EBITDA margins improved by 100 bps backed by better capacity utilization.

The Indian operations of Denim business has witnessed 14% sales growth during the quarter to Rs 196 crore, while EBITDA stood at Rs 24 crore, up by 33% compared to the previous year. Margins have witnessed improvement mainly due to export growth and better realizations.

Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, "The third quarter of the current financial year has been far more challenging. On the one hand margins of our worsted suiting's business have been under pressure due to higher input costs and inflation, our apparel business suffered from high inventory overhang impacting margins. We have put in place various processes and cost improvement initiatives to tackle the same. We are confident that our initiatives will bear fruitful results in the time to come. Despite a tough quarter gone by, we remain confident about the long term consumption demand; and the strategic direction of our business and continue to invest in brand building, retail and in improving operational efficiencies”.

Click here to view entire Q3 results.

Raymond


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search